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MyGate to double revenue in FY25, eyes 30-50% growth year-on-year
Mint Bangalore
|January 28, 2025
Community management leader MyGate is banking on increased penetration in societies and advertising revenue to drive profitable growth in the next three to four years, a top company official told Mint.
Community management leader MyGate is banking on increased penetration in societies and advertising revenue to drive profitable growth in the next three to four years, a top company official told Mint. "We are at that stage where we can grow at least 30% year-on-year on the back of societies and advertising revenue. With some new verticals and experiments, we may be able to drive 50% growth," said Abhishek Kumar, co-founder and chief executive of the company, for beyond 2024-25.
For this financial year, Kumar said the startup achieved company-wide profitability and was on track to almost double its revenue during the fiscal year, adding that the company can easily keep the momentum for 30-50% growth.
In 2023-24, the company posted a revenue of ₹110 crore and reduced its losses by 82% to ₹40 crore.
The founder told
This story is from the January 28, 2025 edition of Mint Bangalore.
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